Answer format: a. Amount- PHP 10,500 b. Gain/ increase- PHP 10,500 c. Loss/ decrease- (PHP 10,500) d. Debit amount- PHP 10,500- DEBIT e. Credit amount- PHP 10,500- CREDIT f. Shortage or Overage-PHP 10,500- SHORTAGE orPHP 10,500- OVERAGE g. Rate- 10%

You are making an audit of Denzel Corporation for the past calendar year. The balance of the petty cash account at December 31 2020 was P1,300. Your count of the imprest cash count made at 8:30 am on January 3, 2021, in the presence of the petty cash custodian, revealed: Currency and coins 571.38 Checks: Date Maker Bank 12/28/2020 Macky, vice president PNB 360.00 12/29/2022 Andy employee DBP 60.00 12/31/2020 Bobot, Customer RCBC 153.80 1/2/2021 Nei, Customer PNB 121.36 1/10/2021 Jeff, employee PNB 60.00 (check received Dec 29) (These checks were all considered good when deposited after dates shown on the checks. The first four checks were actually deposited January 3: the last check was deposited Jan 11: all five checks proved to be good) Vouchers: Dec 11 #261 Richard, shipping clerk- temporary advance for the use of the receiving department. Your count of Mr. Richard's fund revealed: Currency- P28.80: merchandise freight bills, P31.20. P60.00 Dec 28 #301 Postage 12.00 Dec 29 #302 Freight bill on merchandise purchases 47.30 Dec 31 #305 Freight bill on office supplies 88.93 Jan 2 #500 Freight bill on merchandise purchases 29.36 IOU Dec 21 Mabel, employees 36 Sales invoice (for cash sales, collections handled by the petty cashier): Invoice #315 Dec 30 P120.00 #328 Dec 31 153.80 #334 Jan 2 121.36 (As a general rule, the petty cashier endeavored to turn over the proceeds of cash sales to the general cashier on the 10th and 20th and last days of each month. Proceeds on these sales were recorded and deposited by the general cashier) Postage stamps: Three one-peso stamps. The petty cashier handled postage stamps. These stamps represents the unused stamps purchased on voucher #301